Redevelopment Agency Advisory Board Meeting - May 4, 2026

The City of Reno Redevelopment Agency Advisory Board met on May 4, 2026, to discuss several key redevelopment and procurement-related issues. A significant portion of the meeting focused on the evaluation of a Tax Increment Financing (TIF) application for the RED retail building project by Lion Living. The board debated whether the TIF analysis should consider only the retail buildout or the entire mixed-use development, including residential components. The third-party consultant, SB Friedman, concluded that the retail portion alone met market return benchmarks without public assistance, but the applicant requested a broader financial analysis including the whole project. The board ultimately voted to continue the item to gather more comprehensive information. Additionally, the board reviewed a $150,000 retail attraction budget aimed at activating vacant storefronts downtown through various strategies such as leasing, broker engagement, pop-ups, and potential property acquisition. The board recommended moving forward with a leasing-focused retail activation program incorporating master lease options to mitigate financial risk. Other agenda items included discussions on the advisory board's role and structure, with a motion to hold a workshop to explore expanding the board's authority and improve efficiency. The meeting also briefly touched on a park district service plan, with plans to revisit it once models are identified. Overall, the meeting involved detailed procurement discussions around redevelopment financing, vendor engagement, and budget allocations for downtown revitalization efforts.